MIRA
INFORM REPORT
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Report Date : |
02.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
CORE CHEMICAL
INC |
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Registered Office : |
121-1 Tung Shih Hu Tung Hu Village Minhsiung Hsiang Chiayi Hsien 621 |
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Country : |
Taiwan |
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Date of Incorporation : |
07.11. 2005 |
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Com. Reg. No.: |
28025805 |
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Legal Form : |
Private Company With Limited Liability |
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Line of Business : |
Local Purchasing of various types of Chemical Materials Value-added processing of Paint Ball Guns and related Hardware Parts & Accessories. Domestic Sales of its Imported Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 500,000.00 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
CORE CHEMICAL INC
121-1 TUNG SHIH HU TUNG HU VILLAGE
MINHSIUNG HSIANG CHIAYI HSIEN 621, TAIWAN
TEL: 886-5-2065705 FAX: 886-5-2264365
EXECUTIVE SUMMARY
INCORPORATION DATE : NOVEMBER 7, 2005
REGISTRATION NO. :
28025805
LEGAL FORM :
PRIVATE COMPANY WITH LIMITED LIABILITY
CHIEF EXECUTIVE :
MS. CLAIR CHUNG-CHU HSU (MANAGER)
STAFF STRENGTH :
2
CAPITAL :
US$ 31,056
BUSINESS LINE :
TRADER
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
FAIR
RECOMM. CREDIT RANGE : USD
500,000.00 BASED ON DOCUMENTS AGAINST ACCEPTANCE (D/A)
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIR
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
TWD 32.1024 = USD 1
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
M - million
TWD –Taiwan New Dollars
Key Industry : Hardware & Tools
Issuing Authority : Ministry of Economic Affairs (MOEA)
*Company Name*
===============
Also known by its short name CORECHEM INC
*Corporate & Organization Structure*
=============================
A small sized company operated and managed by an experienced team of
professionals.
*Office & Facilities*
===============
Size : 105.2 sq. meter(Approx)
Location : Chiayi Hsien
Property status : Rented
Type of building : Residential district
Comments :
Serves as office and warehouse.
Note : We were unable to find any reference of the supplied address on
any local. The above address as reflected on our report was confirmed to be its
current registered/operating address.
*Factories, Size & Locations*
======================
The company is a trading house focused on exports of overseas products,
and maintains no manufacturing facilities.
Web
site: www.corechem.com.tw SC’s website is unable to be landed at
present for the technical reason.
Email : clair.hsu2001@msa.hinet.net
For the past two years there is no record of litigation.
*OWNERSHIP*
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Chairman : Ms. Clair
Chung-chu Hsu
Nationality : Taiwanese
*SHAREHOLDERS*
=================
Total number of shareholders : 2
Total number of shares : n/a
No. Shareholders Country
Number Amount %
1 Ms. Clair Chung-chu Hsu Taiwan n/a n/a 99.00
2 Undisclosed Shareholders n/a n/a n/a 1.00
*COMPANY MANAGEMENT*
=========================
Name Nationality
Job Description Dept. / Division
1 Ms. Clair Chung-chu Hsu Taiwanese
Manager Sales
Management Details - 1
Personal Unique Identifier :
MI02044716
Name :
Ms. Clair Chung-chu Hsu Sex : F
Country of Residence :
Taiwan
Other Details :
Work experience : More than 3 years work experience.
Responsibilities : Handles the daily
operation of the firm including all financials, sales and legal matters.
*COMPANY DIRECTORS*
======================
1
Personal Unique Identifier :
MI02044716
Name :
Ms. Clair Chung-chu Hsu
Nationality :
Taiwanese
Country of Residence :
Taiwan
*Main Products & Services*
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Specializes in the following areas of work:
1. Local purchasing of various types of chemical materials.
2. Value-added processing of paint ball guns and related hardware parts
& accessories.
3. Domestic sales of its imported products.
Products : Paintball
guns
Paintball marker part
Paintball markers
Paintball regulators
*Payment Terms*
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Sales
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Local : Cash
30 - 90 days
credit
Purchases
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Local : 30 - 90 days credit
*Competitors*
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The following locally based companies supply similar range of products:
- AIR CHALLENGER INDUSTRIAL CO LTD
- KARBONA PARTS INC
- DAH YUAN IRONWORKS CO LTD
- WELIH TOOLS CO LTD
- HANDY-ANG INDUSTRIAL CO LTD
*Domestic Customers*
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Most of domestic sales to local trading houses which also export.
*Local Distribution Network*
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100% of the annual turnover is attributed to local sales.
*International Trade Activity*
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There is no record of Exports because the prime focus of the firm's
activity is concentrated on local sales only.
SC is not known to have any subsidiary at
present.
PAYMENT RATING : 4 OBTAINED SCORES :
49
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Implication |
Implications |
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1 |
Scores 85–100 |
Excellent |
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2 |
Scores 75 – 84 |
Above Average |
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3 |
Scores 50 – 74 |
Average |
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4 |
Scores 35 – 49 |
Fair |
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5 |
Scores 15 – 34 |
Below Average |
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6 |
Scores 01 – 14 |
Poor |
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NR |
No Data |
No Data |
The rating indicates the
payment pattern of SC based upon our Payment Database, comments from suppliers
of SC, information from banks (if available), as well as industrial sources.
Dealings on open terms may be possible for SMALL
amounts depending on individual judgement experience.
*BANK DETAILS*
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Bank Name : BANK
OF TAIWAN
Branch :
Chungcheng Dist, Taipei City
Branch Address : 120
Chung Ching South Rd Section 1 Chungcheng Dist Taipei City 100 (Head
Office)
SWIFT Code :
BKTWTWTP
Bank Name : CHANG
HWA COMMERCIAL BANK LTD
Branch :
Central Dist, Taichung City
Branch Address : 38 Tzu
Yu Rd Section 2 Central Dist Taichung City 400 (Head Office)
SWIFT Code :
CCBCTWTP
*Financials*
==========
As a private limited company with a paid-up capital of less than USD6
million, there is no legal requirement according to local corporate law for
public disclosure of detailed financials.
Although financial summaries were obtained for reference.
*Financial Summary (Currency: U.S. $'s)
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Year Sales Assets Net Income
2007 $24,140.01 $15,087.51 $905.25
*Int´l Trade Activity (Currency: U.S. $'s)
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Year Imports Exports Total
2006 $30,000.00 n/a
$30,000.00
Over the past 3 years, SC has made a stable growth with satisfactory
profit. It is considered a credit line up to USD 500,000.00 based on documents
against acceptance (D/A) appears to be within SC’s capacities.
Attached:
trade references
SIC PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 3944 Games,
toys, and children's vehicles, except dolls and bicycles
Trading 5092 Toys
& Hobby Goods & Supplies
HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY
Activity Code Product/Service Description
Trading 9303 Sport
shotguns & rifles etc, very pistols etc
Trading 9500 Toys,
games & sports equip; parts & accessories
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)